The Kingdom’s bicycle exports totalled more than $379 million during the first nine months of the year, up 28.92 per cent compared to the same period last year, the state media service Agence Kampuchea Presse (AKP) reported.
Citing data from the Ministry of Commerce, AKP said more than 1.5 million bicycles were shipped during the period, with the US importing the lion’s share at more than half a million.
Ranet, from real estate news portal Property Area Asia, reported that the Kingdom exported “more than 550,000” bicycles to the world’s largest economy in nominal terms, also citing the ministry.
Elsewhere, 360,000 bikes were sold to Germany, 270,000 to the UK and 150,000 to Belgium. The Netherlands imported 90,000 while Australia bought 100,000 bikes, according to AKP.
Ministry of Commerce spokesman Seang Thay told The Post that Cambodia’s bicycle exports remained normal despite Covid-19.
He claimed that from January to September, bicycle exports increased by more than $85 million compared to the same period last year.
“Minister of Commerce Pan Sorasak sent a letter to all buyers to continue accepting ordered goods from Cambodia.
“Cambodia has retained its capacity to produce despite the Covid-19 situation. Thank you to all the buyers for accepting the minister’s request,” Thay said.
Cambodia Chamber of Commerce vice-president Lim Heng told The Post that bicycles were in vogue because they reduced air pollution in urban areas and provided a chance to exercise for people cooped up by Covid-19.
Bicycles’ rising popularity pushed the Kingdom to keep up with the added global demand, he said.
“The increase of the Kingdom’s bicycle exports during the period reflects on the good investment climate in Cambodia,” Heng said.
Overall, bilateral trade between Cambodia and the US reached more than $5 billion in the first nine months of the year, up 16 per cent compared to the same period from last year, according to figures from the US Census Bureau.
The figures show that the Kingdom exported $4.82 billion worth of products, up 22 per cent year-on-year and Cambodia imported $232 million from the US, down 42 per cent year-on-year.
Speaking at the third edition of the Indo-Pacific Business Forum (IPBF) last week, US ambassador to Cambodia Patrick Murphy noted that the Kingdom is a regular benefactor of US products and services.
He said the Cambodian private sector actively works with the US government and its agencies to create financing vehicles and grow their businesses.
He highlighted the dramatic growth in US-bound Cambodian exports in recent years.
The US is the largest market for Cambodian exports, taking in $5.4 billion last year, up from $3 billion in 2015, Murphy previously said.
According to the National Bank of Cambodia, the US accounted for $10.9 billion (or 29 per cent) of Cambodian exports from January-September last year. The Kingdom accounted for just two per cent of US exports during the period, worth $16.5 million.